^TNX vs. TMV
Compare and contrast key facts about Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^TNX or TMV.
Correlation
The correlation between ^TNX and TMV is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
^TNX vs. TMV - Performance Comparison
Key characteristics
^TNX:
0.75
TMV:
0.56
^TNX:
1.24
TMV:
1.08
^TNX:
1.14
TMV:
1.12
^TNX:
0.21
TMV:
0.24
^TNX:
1.55
TMV:
1.40
^TNX:
10.42%
TMV:
16.78%
^TNX:
21.57%
TMV:
41.57%
^TNX:
-96.85%
TMV:
-98.94%
^TNX:
-70.90%
TMV:
-95.84%
Returns By Period
In the year-to-date period, ^TNX achieves a 0.79% return, which is significantly lower than TMV's 1.28% return. Over the past 10 years, ^TNX has outperformed TMV with an annualized return of 9.42%, while TMV has yielded a comparatively lower -3.45% annualized return.
^TNX
0.79%
1.88%
8.19%
11.17%
20.36%
9.42%
TMV
1.28%
4.98%
17.28%
21.28%
10.33%
-3.45%
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Risk-Adjusted Performance
^TNX vs. TMV — Risk-Adjusted Performance Rank
^TNX
TMV
^TNX vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Drawdowns
^TNX vs. TMV - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -96.85%, roughly equal to the maximum TMV drawdown of -98.94%. Use the drawdown chart below to compare losses from any high point for ^TNX and TMV. For additional features, visit the drawdowns tool.
Volatility
^TNX vs. TMV - Volatility Comparison
The current volatility for Treasury Yield 10 Years (^TNX) is 4.88%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 8.91%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.